Market Analysis: 31 July 2018

Disclaimer: The views and claims expressed here are not meant as an alternative form of investment advice. Every investment move involves risk, and you should consult professional financial advisors for guidance or conduct your own research before making a decision.

According to TokenInsight analysis, Bitcoin popularity growth rates continued its downward trend to 0.091% from last week’s figure of 0.09%. About 207,000 BTC was exchanged in the past 24 hours and figures have rebounded by 22.7% compared to yesterday, increasing slightly by 0.5% compared to last week’s figure. According to analyst BCtrend, the earnings rate of Bitcoin’s hash rates have hit new record highs, however, active account addresses during this time reached a former low again. Demands for market adjustment continue to rises this week.

According to independent analyst Tommy Tang, Bitcoin has slightly rebounded after a drop earlier this morning. He believes that this is an indication that the majority oflong positions have been taken and that Bitcoin price might climb above $8,500 after the adjustment.